TeraWulf Raises $1.04B via 54.5M Shares to Build Hawesville Data Campus
TeraWulf sold 54.51 million shares at $19 apiece, raising about $1.04 billion with full exercise of a 7.11 million-share overallotment. The net proceeds will repay its bridge credit facility and fund construction of the Hawesville, Kentucky data center campus, future site acquisitions and general corporate purposes.
1. Offering Details
TeraWulf closed its public offering of 54.51 million shares at $19 per share, including full exercise of a 7.11 million-share underwriter option, raising gross proceeds of approximately $1.04 billion.
2. Use of Proceeds
Net proceeds will repay in full the company's bridge credit facility and fund construction costs of its planned data center campus in Hawesville, Kentucky, as well as support future site acquisitions and general corporate purposes.
3. Underwriting Syndicate
Morgan Stanley led the bookrunning, joined by BofA Securities, Citigroup, TD Cowen and Wells Fargo Securities, with Citizens Capital Markets and Santander as co-managers, and Cantor Fitzgerald advising on equity capital markets.